Condensed Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities:
Net income (loss)	$ 38,154	$ 12,637
Adjustments to reconcile net income (loss) to net cash provided by / (used in) operating activities:
Depreciation and amortization	7,036	7,786
Amortization of Debt Discount	3,241	0
Share-based compensation	14,286	13,803
Deferred rent obligations	(1,629)	(2,467)
Net loss on disposal of fixed assets	311	350
Purchases of securities owned, at fair value	(3,362,237)	(5,948,964)
Proceeds from sales of securities owned, at fair value	3,013,982	6,179,204
Proceeds from sales of securities sold, not yet purchased, at fair value	1,371,216	2,417,838
Payments to cover securities sold, not yet purchased, at fair value	(1,268,348)	(2,458,420)
Net (gains) losses on securities, derivatives and other investments	(38,181)	(33,530)
Consolidated Funds
Purchases of securities owned, at fair value	0	(298,220)
Proceeds from sales of securities owned, at fair value	0	287,412
Proceeds from sales of securities sold, not yet purchased, at fair value	0	42,701
Payments to cover securities sold, not yet purchased, at fair value	0	(42,387)
Purchases of other investments	(19,568)	(973)
Proceeds from sales of other investments	21,367	39,195
Net realized and unrealized (gains) losses on investments and other transactions	(11,320)	(12,729)
(Increase) decrease in operating assets:
Cash acquired upon transaction	0	10,747
Cash collateral pledged	2,045	143
Securities owned, at fair value, held at broker dealer	4,300	13,078
Receivable on derivative contracts, at fair value	9,820	9,184
Securities borrowed	(1,393,783)	(494,476)
Receivable from brokers	(28,169)	4,628
Fees receivable, net of allowance	1,501	(4,237)
Due from related parties	(2,806)	(5,636)
Other assets	(5,702)	(10,215)
Consolidated Funds
Cash and cash equivalents	1,680	2,071
Other assets	4,933	(362)
Increase (decrease) in operating liabilities:
Securities sold, not yet purchased, at fair value, held at broker dealer	(19,839)	(9,305)
Payable for derivative contracts, at fair value	(12,016)	(917)
Securities loaned	1,406,105	484,349
Payable to brokers	171,377	(39,512)
Compensation payable	8,636	(34,020)
Fees payable	3,840	2,933
Due to related parties	31	(196)
Accounts payable, accrued expenses and other liabilities	6,521	(10,021)
Consolidated Funds
Payables to Brokers	0	1,030
Accounts payable, accrued expenses and other liabilities	(455)	(249)
Net cash provided by / (used in) operating activities	(73,671)	122,253
Cash flows from investing activities:
Purchases of other investments	(80,153)	(19,406)
Cash convertible note economic hedge transaction	(35,710)	0
Proceeds from sales of other investments	75,622	25,668
Tenant Allowance	1,240	0
Purchase of fixed assets	(6,890)	(784)
Net cash provided by / (used in) investing activities	(45,891)	5,478
Cash flows from financing activities:
Securities sold under agreement to repurchase	(3,657)	(159,634)
Proceeds from issuance of convertible debt	149,500	0
Deferred debt issuance cost	(3,720)	0
Proceeds from sale of warrant	15,218	0
Borrowings on short-term borrowings and other debt	6,217	2,044
Repayments on short-term borrowings and other debt	(2,913)	(2,807)
Proceeds from stock options exercised	116	0
Purchase of treasury stock	(17,327)	(2,658)
Cash paid to acquire net assets (contingent liability payable)	(518)	(73)
Capital contributions by redeemable non-controlling interests in operating entities	705	501
Capital withdrawals to redeemable non-controlling interests in operating entities	(9,575)	(2,282)
Consolidated Funds
Capital contributions by redeemable non-controlling interests in Consolidated Funds	9,568	11,155
Capital withdrawals to redeemable non-controlling interests in Consolidated Funds	(12,606)	(18,298)
Net cash provided by / (used in) financing activities	131,008	(172,052)
Change in cash and cash equivalents	11,446	(44,321)
Cash and cash equivalents at beginning of period	54,720	83,538
Cash and cash equivalents at end of period	66,166	39,217
Supplemental information
Non compete agreements and covenants with limiting conditions acquired (see Note 2)	0	460
Common stock issuance upon close of acquisition (see Note 2)	0	6,297
Purchase of treasury stock, at cost, through net settlement (see Note 21)	5,610	3,156
Cash conversion option	35,710	0
Re-issuance of treasury stock for services provided	0	65
Net assets transferred to Merger Master	$ 0	$ 22,152